It depends on how the account was set up with the bank. That's the first thing to check.

Can you give me a example of how it might have been set up?
The savings/checking each have their own account number but the checking is in both our names on the checks.

Does that make sense?

If the account is a joint checking account either party may withdraw the money at any time. There is a built in "right of surivorship" in joint bank accounts.

If the account is set up requiring 2 signatures then a death certificate will be needed for the remaining person to access the account. It may go also be frozen for probate.

Yeah - depends on how the Account reads, as to
signatures required.

Also - the Probate depends on what State you are living
in. Some have adopted
The Uniform Probate Code.

When my Dad died in California he was divorced. He never bothered to take his ex-wife off his bank account and she was able to go in and take everything. And she did. My probate atty. said we could try to fight it, but my Dad really had nothing to fight for. He owned nothing but an old Porsche and his personal items. I had to pay for his funeral by having a garage sale. But his ex-wife got a couple thousand dollars and my extreme dislike for the rest of her life.

Trish

I have my DD on my checking account. Her name does not show on the checks but she can sign checks. I have it that way so that if I am incapacitated for any reason she can pay my bills or buy any thing I might need or want. My last surgery required a 7 week stay in the hospital and she handled everything I couldn't.

On CDs I have my DS and DD as POD (payable on death.)

Sue

i just realized my name is on a bank account at work and I left the job 5 years ago. i agreed to open an account to keep track of our office coffee money. We collected $5 a month per person and used it to buy coffee, milk, sugar,etc. We kept the money in a checking account, mt name and another woman's. When I retired, I never took my name off the account. Wonder what they've done since then?

I was able to do it in Wisconsin after my SO died.

You really do need to check to what the local laws are, and how the account is set up.

However, my mother had my sister on her checking account--for the reasons many list above. When Mom died, according to the bank, the account then belonged to my sister, and she could use it, close it, whatever--and keep the money. Now, my sister would never do that. She closed the account and gave me the money to put with the rest of the estate monies (I was the executrix).

The rules about the bank account will vary according to how it was set up, and depending on the rules in the political jurisdiction where it is located. As some have said, in some cases accounts are frozen until cleared by probate (and the income tax people).

Hi Azzalea,

It sure is great to have family members (and others) who are as caring and responsible as your sister was!

If everyone were like that ...

... building more jails wouldn't be our greatest growth industry (many of the others having been moved offshore).

ole joyful

I would call a bank in that state and tell them you are considering setting up an account and ask what the options are.

Call the bank and ask.

It is my understanding that if the account reads: person 1 AND person 2, it requires both signatures to write a check and to drain the account. But, if the accounts reads: person 1 OR person 2, then either person may drain the account.

However, since one of the owners of the account has died, there may be overriding controls in your state. For example, the one who died may have willed some of the funds to another party. Ask an officer of the bank. Do not depend on a teller. Ask the teller to direct you to an officer of the bank. If the answer you get seem unreasonable, then you will need to consult an attourney.